Duality Advisers LP cut its position in shares of Synopsys, Inc. (NASDAQ:SNPS – Get Rating) by 83.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,151 shares of the semiconductor company’s stock after selling 5,791 shares during the quarter. Duality Advisers LP’s holdings in Synopsys were worth $368,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stiles Financial Services Inc lifted its position in shares of Synopsys by 0.7% during the 4th quarter. Stiles Financial Services Inc now owns 4,129 shares of the semiconductor company’s stock worth $1,318,000 after buying an additional 30 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Synopsys by 3.2% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,122 shares of the semiconductor company’s stock worth $343,000 after purchasing an additional 35 shares during the last quarter. Cadence Bank grew its stake in Synopsys by 1.2% in the 3rd quarter. Cadence Bank now owns 3,036 shares of the semiconductor company’s stock valued at $928,000 after purchasing an additional 35 shares during the period. Legacy Financial Advisors Inc. increased its position in shares of Synopsys by 3.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,130 shares of the semiconductor company’s stock valued at $361,000 after purchasing an additional 35 shares during the last quarter. Finally, Twin Capital Management Inc. raised its stake in shares of Synopsys by 1.4% during the 4th quarter. Twin Capital Management Inc. now owns 2,647 shares of the semiconductor company’s stock worth $845,000 after purchasing an additional 36 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently weighed in on SNPS. Rosenblatt Securities restated a “buy” rating and set a $420.00 price target on shares of Synopsys in a research report on Tuesday, February 14th. StockNews.com began coverage on shares of Synopsys in a research report on Thursday, March 16th. They set a “buy” rating for the company. Atlantic Securities began coverage on shares of Synopsys in a research report on Tuesday, January 17th. They set an “overweight” rating for the company. Wells Fargo & Company increased their price target on shares of Synopsys from $400.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Finally, Needham & Company LLC increased their price target on shares of Synopsys from $420.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $424.18.
Synopsys Trading Up 1.3 %
Synopsys (NASDAQ:SNPS – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.12. Synopsys had a net margin of 18.22% and a return on equity of 16.88%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Synopsys, Inc. will post 7.2 earnings per share for the current year.
Insider Transactions at Synopsys
In other news, insider John F. Runkel, Jr. sold 3,464 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $353.91, for a total value of $1,225,944.24. Following the sale, the insider now directly owns 25,112 shares of the company’s stock, valued at $8,887,387.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John F. Runkel, Jr. sold 3,464 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $353.91, for a total value of $1,225,944.24. Following the sale, the insider now directly owns 25,112 shares of the company’s stock, valued at $8,887,387.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sudhindra Kankanwadi sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $391.43, for a total transaction of $1,565,720.00. Following the completion of the sale, the chief accounting officer now directly owns 16,758 shares in the company, valued at $6,559,583.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,464 shares of company stock valued at $4,235,984. 0.69% of the stock is currently owned by corporate insiders.
Synopsys Company Profile
Synopsys, Inc engages in the provision of software products and consulting services in the electronic design automation industry. It operates through the following segments: Semiconductor and System Design, and Software Integrity. The Semiconductor and System Design segment includes the EDA, IP and System Integration.
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